Publisher DMGT sees revenues rise by 3% thanks to strong performance from MailOnline and business division

Publishing and events group DMGT reported underlying revenue up 3 per cent in the third quarter to £457million, driven by its business-to-business operations and rising advertising revenue in MailOnline.

The result saw DMGT (down 3p to 820p), which owns the Daily Mail, leave its outlook for the year unchanged, with analysts predicting pre-tax profit of £277million-£304million.

In the group’s business-to-business division, underlying revenues were up 6 per cent to £275million.

Dmg media, which includes the Mail, the Mail on Sunday and Mail Online, reported a decline of 1 per cent in underlying revenues, due largely to a decision to leave the cover price of its newspapers unchanged.

Advertising revenue grew by 5 per cent on an underlying basis in the three months to the end of June, boosted by a 49 per cent increase in online advertising income to £15million.